On Feb. 10, the European Commission granted clearance for Alphabet’s $32 billion acquisition of Wiz, marking a key milestone in the company’s strategy to bolster its cybersecurity offerings. The approval removes the last significant regulatory barrier, allowing the deal to proceed toward final shareholder and board approvals.

Despite the green light from Brussels, Alphabet shares slipped on investor concerns over the acquisition’s financing structure and potential integration challenges. Market participants are now focused on the timeline for closing, expected later this year, and how the deal will impact Alphabet’s balance sheet and earnings trajectory.